Ashok Leyland invests in Germany's Albonair
New Delhi - India's second-largest commercial vehicle manufacturer, Ashok Leyland Ltd, said Tuesday that it had made a strategic investment in the German firm Albonair GmbH for the development of vehicle emission treatment products.
The Indian firm did not disclose any financial or other details of the deal in a filing with the Bombay Stock Exchange.
Dortmund-based Albonair focuses on the development, production and sale of exhaust after-treatment systems for environmentally friendly diesel engines.
Ashok Leyland, with an annual turnover of 2.1 billion dollars, is the flagship company of the London-based Hinduja Group and is one of India's leading manufacturers of buses, trucks and defence vehicles. About eight out of 10 buses in Indian cities are made by Leyland. (dpa)